Global Tech Industries Group, Inc. cancelled the acquisition of Creatd, Inc..
February 23, 2023
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Global Tech Industries Group, Inc. (OTCPK:GTII) executed a binding Letter of Intent to acquire Creatd, Inc. (OTCPK:CRTD) for $100 million on January 10, 2023. GTII will issue $100 million of restricted shares of common stock as consideration. Final acquisition terms will be subject to due diligence, regulatory approval, and approval of the boards and shareholders of both parties. As due diligence and negotiations continue, Creatd intends to complete the spin-off of its media subsidiary, OG Collection Inc. As of January 30, 2023, Creatd has extended the no-shop period Until March 7, 2023.
Global Tech Industries Group, Inc. (OTCPK:GTII) cancelled the acquisition of Creatd, Inc. (OTCPK:CRTD) on February 24, 2023. Creatd has decided not to proceed with a proposed transaction with Global Tech. While Creatd has concluded discussions of a proposed acquisition, it will honor the no-shop terms outlined in the Letter of Intent signed with GTII.
Global Tech Industries Group, Inc. specializes in the pursuit of acquiring new technologies. The Company works across various and diverse industry sectors, attempting to find partners and assisting them in animating their business plans or facilitating them, through joint venture, or stock purchase, to spin out on their own. It also assists private companies, through incubation, to become public companies in their own right and in good standing. Its portfolio includes Classroom Salon and Gold Transaction International. Classroom Salon uses interfaces, workflows, and algorithms, providing a tool to author, deploy, teach, and assess school courses, seminars, and other study groups and then integrates them with other learning platforms at many educational levels. Gold Transaction International with the assistance of a private network, purchases gold from artisan miners throughout the world and transports, assays, refines and sells the gold in the Dubai Multi Commodities Centre (DMCC).
GLOBAL TECH INDUSTRIES GROUP, INC. 
